Introduction
Flexible Packaging is a package like bags and pouches that can be modified and are of free shape. This is due to usage of flexible and easily yielding materials in manufacturing them such it can be modified into different shapes.
Factors such as technological innovation, sustainability, and attractive economics are some of key reasons that are driving the market
Also, growing demand for packaging solutions across various end-user industries that ensures enhanced protection, handling convenience, and packaging design options are anticipated to drive the market demand.
Despite the current pandemic situation, the end-users of this market is recovering to operate in full capacities from 2021 beginning. Along with this, the recovering manufacturing activities across the globe are expected to mitigate to numerous potential negative impacts caused during COVID-19 and maximize their opportunities in future.
Table of Contents
Executive Summary
Scope of the report
Research Methodology
Executive Summary
Introduction
5.1 Parent Market/ TAM
5.2 Market Outline
5.3 Market Segmentation
6.Five Force analysis
7.Market Sizing
8.Market segmentation
9.Geographical Landscape
9.1 APAC
9.2 Europe
9.3 North America
9.4 ROW
10.Growth drivers
10.1 Changing lifestyle and rise in disposable income
10.2 Increased consumption of processed food and beverages
11.Key Market Trends
12.Impact of Covid-19
13.Challenges
14.Customer Insights analysis
15.Major Market Players
15.1 Amcor
15.2 Mondi
15.3 Berry Global
15.4 Sealed Air Corporation
15.5 Bemis
15.6 Aluflexpack novi
15.7 Sonoco Products
15.8 Winpak
15.9 Constantia Flexibles
15.10 ProAmpac
16.Recent Developments
17.Future Scope
18.Strategic Recommendations
Market Overview
The Flexible Packaging Market was valued at USD 230.49 billion in 2020, and it is projected to be worth USD 289.89 billion by 2026, registering a CAGR of 3.89% during the forecast period (2021 - 2026).
Technological innovation, sustainability trepidations, and attractive economics are among the reasons for the remarkable growth of flexible packaging in the last two decades, globally.
Owing to the rising focus on sustainability, traditional rigid packaging solutions are being substituted by innovative and more sustainable flexible packaging.
Key Trends
Growing market demand for customer-friendly packages and heightened product protection is expected to fuel the demand.
The demand for bio-based raw materials in flexible packaging manufacturing is increasing, which is anticipated to provide lucrative demand during the forecast period.
Increasing investment in the development of new & innovative flexible packaging material is propelling the market.
Key Market Players
Some of the key players in the market are Amcor, Mondi, Berry Global, Sealed Air Corporation, Bemis, Aluflexpack novi.
The presence of multiple vendors in the flexible packaging market makes it highly competitive. Also, these players are adopting strategies such as product innovation, increasing R&D activities, M&A to sustain its position in the market
Growth Drivers and Challenges
Changing lifestyle and rise in disposable income is driving the market growth.
Increased consumption of processed food and beverages is one of the drivers of the market
The need for innovative, customized, flexible packaging is also significantly catalyzing the market growth